Norwegian Air to End Long-Haul Flights, Focus on Europe 14 January 2021

Norwegian Air to end long-haul flights, focus on Europe 14 January 2021

around 20 billion kroner ($2.36 billion), and plans to raise 4-5 billion kroner ($473 million-590 million) in new capital, including through a rights issue and a private placement of shares. The plan must be approved by an Irish bankruptcy court.

Like other airlines, its fleet is now mostly grounded as the pandemic has caused a near-total halt to global travel.

In November, Norwegian said it was seeking restructuring and bankruptcy protection in Ireland, where its fleet is held, saying it was in the interest of its stakeholders.

In this file photo dated Monday, June 12, 2017, showing Earlier that month, the Oslo-based company said it a Boeing 787 airplane being built for Norwegian Air was facing a "very uncertain" future after the Shuttle is shown at Boeing Co.'s assembly facility, in Norwegian government turned down its request for Everett, Wash, USA. Low-cost carrier Norwegian Air additional financial support. The government said Shuttle said Thursday Jan. 14, 2021, it will focus on European destinations and close its long-haul operations that the airline had been struggling financially even as it struggles with the fallout of the coronavirus before the pandemic and that aid should be pandemic and debt restructuring. (AP Photo/Ted S. targeted first at healthy businesses. Warren, FILE) After that, Norwegian announced it had to lay off another 1,600 staff and ground 15 of the 21 planes it had been flying with. Low-cost carrier Norwegian Air Shuttle said Thursday it will focus on European destinations In May, the carrier got 3 billion kroner ($354 million) and close its long-haul operations as it struggles in loan guarantees from the government as part of with the fallout of the coronavirus pandemic and its restructuring plan. But the second call for aid debt restructuring. was turned down on Nov. 9.

The airline said it will "focus on its core Nordics © 2021 The Associated Press. All rights reserved. business, operating a European short haul network This material may not be published, broadcast, with narrow body aircraft. Under these rewritten or redistributed without permission. circumstances a long-haul operation is not viable for Norwegian and these operations will therefore not continue."

The plan affects its flights to the United States and means it will cut its fleet from 140 aircraft to about 50.

Norwegian also wants to reduce its total debt to

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APA citation: Norwegian Air to end long-haul flights, focus on Europe (2021, January 14) retrieved 23 September 2021 from https://techxplore.com/news/2021-01-norwegian-air-long-haul-flights-focus.html

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